CME Group and FanDuel said Wednesday they will form a joint venture to create an event-based contracts platform aimed at retail customers. The venture will operate as a non-clearing Futures Commission Merchant, combining CME’s market infrastructure with FanDuel’s gambling app and its more than 12 million registered users. Contracts as small as $1 will allow traders to take “yes” or “no” positions on benchmark equity indices such as the S&P 500 and Nasdaq-100, commodity prices including oil, gas and gold, major cryptocurrencies, and macro indicators like consumer-price inflation and GDP. Trades will clear through CME exchanges and fall under Commodity Futures Trading Commission oversight. Neither company referenced sports markets in their announcements, distancing the product from the state-regulated sports-betting business that is currently the subject of litigation in several jurisdictions. Observers say sports contracts could be added later if regulators permit. “Together, our event-based products will appeal to the growing public interest in markets,” CME Chief Executive Officer Terry Duffy said in the statement. FanDuel CEO Amy Howe added that the alliance would deliver “new and engaging products” to the bookmaker’s customer base. The partners plan to roll out the service later this year, subject to regulatory review.